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Annual Reporting 2003  
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Our Credentials (continued)

Our culture benefits directly from our diverse roots. Each of the entities that have joined us in the last decade have provided us with strengths that have significantly influenced the course of our business. They have helped us to develop a common set of values and aspirations, among them the commitment to our clients’ success, and the ambition to learn and keep learning – in order to constantly create better and more innovative solutions for our clients. Initiative and entrepreneurial spirit is encouraged and rewarded in our daily work. At UBS, we aim to build responsible relationships – with our clients, with the communities in which we operate and with each other. Integrity and our ethical standards are always the foundation of the business decisions we make.

Having in-depth knowledge of our clients’ goals and needs also brings with it the responsibility to safeguard their private information. The deep respect we have for their right to financial privacy justifies the trust that our clients continue to place in us.

We have no desire to impose a strictly uniform way of thinking on all of our employees around the world. Diverse viewpoints, which spur challenging intellectual debates, are key to our firm’s success around the globe. Capitalizing on the inherent creativity and innovation of a diverse workforce helps us to serve clients better. That means recognizing and appreciating multiple backgrounds, cultures and perspectives. We strive to build a culture that acknowledges individual differences and builds on the unique contribution of each and every one of our people.

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